10 Best Diabetes Stocks To Buy According to Billionaires

8. Abbott Laboratories (NYSE:ABT)

Number of Billionaires: 11

Dollar Value of Billionaire Holdings: $1,939,020,330

Abbott Laboratories (NYSE:ABT) specializes in medical devices, diagnostics, nutrition, and branded generic pharmaceuticals. In diabetes care, its flagship FreeStyle Libre system, a continuous glucose monitoring (CGM) device, eliminates the need for routine finger pricks.

Abbott Laboratories (NYSE:ABT) remains a top diabetes stock, with its diabetes care segment serving as a major growth driver. In Q4 2024, sales from this division reached $1.8 billion, marking a 23% year-over-year increase, while full-year CGM sales totaled $6.5 billion, reflecting 22% growth. The FreeStyle Libre franchise continues to dominate the CGM market, with the company expanding its portfolio through innovations like the Lingo CGM system.

Financially, the corporation delivered a strong Q4 2024 performance, with total sales reaching $11 billion, reflecting a 7.2% increase on a reported basis and 10.1% organic growth (excluding COVID-19 testing sales). The Medical Devices segment grew by 14%, fueled by demand for diabetes care and structural heart products. Diagnostics sales rose 6%, led by a 16% increase in rapid diagnostics, while nutrition sales climbed 7%, with Ensure generating over $3 billion annually.

The company’s profitability remained strong, with adjusted earnings per share rising 13% to $1.34 and operating cash flow totaling $8.5 billion. Abbott Laboratories (NYSE:ABT) reinvested in capacity expansions while returning $5 billion to shareholders through dividends and buybacks. Looking ahead, the company forecasts organic sales growth of 7.5%–8.5% for 2025 and adjusted EPS between $5.05 and $5.25. Key drivers include the continued expansion of FreeStyle Libre CGM systems, the launch of new products like the GridX mapping catheter, and strong momentum in structural heart devices, including MitraClip and TriClip.